Capital Power declares dividend for its Preference Shares (Series 9)
EDMONTON, Alberta – The Board of Directors for Capital Power Corporation (TSX: CPX) (Capital Power) declared a dividend of $0.2048 per share on its Cumulative Minimum Rate Reset Preference Shares (Series 9) (TSX: CPX.PR.I). This dividend is the initial quarterly dividend on the Series 9 shares and represents the time period from when the initial share offering closed on August 9, 2017 to September 30, 2017. Future quarterly dividends, if declared, will be $0.359375 per quarter or $1.4375 per annum for the initial five-year period ending September 30, 2022.
The dividend is payable on September 29, 2017 to shareholders of record at the close of business on September 18, 2017.
The dividends for the preference shares are 100 per cent eligible dividends as defined by the Income Tax Act. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce the income tax otherwise payable on these dividends.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns approximately 4,500 megawatts of power generation capacity at 24 facilities and is pursuing contracted generation capacity throughout North America.